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Concentration Risks
12 Months Ended
Dec. 31, 2024
Risks and Uncertainties [Abstract]  
Concentration Risks
Note 16: Concentration Risks
Concentration of Credit Risks
Financial instruments that potentially subject us to significant concentrations of credit risk include cash and cash equivalents and accounts receivable. We maintain certain cash and cash equivalents with federally insured financial institutions and may maintain deposits in excess of financial insured limits or in financial institutions that are not federally insured. However, we believe that we are not exposed to significant credit risks due to the financial position of the depository institutions in which our deposits are held. No customer accounted for more than 10% of consolidated revenues during the years ended December 31, 2024, 2023 and 2022. Six customers, collectively, accounted for 10.3% of consolidated revenue in 2024. Seven customers, collectively, accounted for 10.0% of consolidated revenue in 2023. Five customers, collectively, accounted for 11.7% of consolidated revenue in 2022.
Vendor Concentrations
In 2024, one vendor accounted for 15.3% of purchases, primarily related to chassis, and in 2023 two vendors individually accounted for more than 10% of purchases (total of approximately 31%), primarily related to chassis. In 2024 and 2023, the top five vendors accounted for approximately 43% and 41% of purchases, respectively. In 2022, one vendor accounted for 16.0% of purchases, primarily related to booms, lifts and parts.